By Elsa Ohlen
Bitcoin took a breather early Tuesday after slow but steady gains for the past few days.
The world's largest cryptocurrency was trading flat over the past 24 hours at $94,912, according to CoinDesk data. The price of Bitcoin is now slightly higher than it was to start the year.
Elsewhere in the sector, Ether climbed 1% to $1,823 and Solana dropped 1.6% to $149.
XRP, the crypto used to facilitate transactions on Ripple's payment platform and the native token of the XRP Ledger, dropped 2% after big gains Monday. Futures tracking the S&P 500 gained 0.2%.
Cryptos typically respond to macroeconomic shifts, and prices tend to drop when economic uncertainty or instability is heightened, and vice versa. In the past few months, the Trump administration's calls for steep tariffs on several trading partners has shaken equity and crypto markets.
Bitcoin fared better than stocks for much of the market turmoil, which many crypto analysts attribute to its transnational nature. It was also helped by steady inflows to Bitcoin ETFs.
In the past week, crypto funds recorded inflows of $3.3 billion, the largest number so far this year, according to J.P. Morgan.
Write to Elsa Ohlen at elsa.ohlen@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
April 29, 2025 04:56 ET (08:56 GMT)
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